U.S (New York)–The Report Ocean has recently published a new report titled “Silicone Elastomer Market” 2023, which outlines the regional and global markets that are predicted to experience significant growth between 2023 and 2031. This extensive research delves deeply into the market’s ever-changing dynamics, value chain analysis, competitive landscapes, investment hotspots, geographical landscape, and significant segments, providing critical insights and valuable information for policymakers, stakeholders, investors, newcomers, and industry professionals. In addition, the report provides a comprehensive examination of the industry’s controls and restraints, as well as information on the global industry’s plans and opportunities. By utilizing this report, individuals in the industry can capitalize on emerging opportunities, develop key strategies, and gain a competitive edge over rivals.
The silicone elastomer market was valued at $6,378 million in 2016, and is projected to reach $9,217 million by 2023, growing at a CAGR of 5.4% from 2017 to 2023. Silicone elastomer is an elastic material that consists of silicon, carbon, hydrogen, and oxygen along with fillers. It is available in various forms including open cell foams, solids, closed cell sponges, coupled with thermally & electrically conductive elastomers. It is popularly used in cooking, baking & food storage products, undergarments, sportswear, and footwear due to their versatility and ease in shaping as well as manufacturing. Owing to its high dielectric strength, heat stability, and good mechanical strength, it is used in electronics, medical devices, and hardware to develop spark plug boots, ignition cables, door seals, and hoses.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
In addition, it is used in mold making, electrocasting, pad printing, industrial bonding, and sealing. Silicone elastomers are more efficient and superior than natural rubbers; thus, they can be utilized as a substitute for the latter. Increase in adoption in medical, automotive, and healthcare industries boosts the demand for silicon rubber in the global market. Developments and rise in demand in the automotive industry are expected to provide potential opportunities for expansion.
Change in lifestyle and increased disposable income of consumers in Asia-Pacific and LAMEA have led to growth of consumer electrical & electronics, healthcare, and medical device industries, leading to high market potential for silicone elastomers. Growth in population and rise in urbanization in emerging economies, such as India and China, have accelerated the construction activities and automobile production, thus driving the market growth. However, fluctuation in raw material prices may serve as a significant limitation to this growth. R&D on antimicrobial silicone elastomers and projected growth in automobile industry represent numerus opportunities for the market.
The report segments the global silicone elastomer market based on type, application, and geography. The product segment includes liquid silicone rubber, high consistency rubber, fluorosilicone rubber, and others, which consists of different types of room temperature vulcanized silicone elastomers (RTVs). By application, the market is categorized into automotive, healthcare, electronics, apparel, medical devices, home repair & hardware, construction, and other industries (baby care, cosmetics, optics, food, and more). Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. In 2015, Asia-Pacific accounted for the largest volume share of the market, owing to emergence of China as the key contributor in the manufacture & consumption of silicone elastomers, and it is expected to maintain its dominance during the forecast period as well.
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A recent finding by Carnegie Mellon University team in February 2017 explains the significance of adding a liquid metal to silicone elastomer, which can create a rubbery heatsink, nicknamed as “thubber.” The high thermal conductivity and elasticity of thubber is meant for rapid heat dissipation in wearable computing and soft robotics applications requiring mechanical compliance and stretchable functionality.
KEY BENEFITS FOR STAKEHOLDERS
This report provides an extensive analysis of the current trends and emerging estimations & dynamics in the global silicone elastomer market from 2015 to 2023, in terms of value and volume, which assist in identifying the prevailing opportunities.
Geographically, the market is analyzed based on various regions, such as North America, Europe, Asia-Pacific, and LAMEA, including countries in each region.
Detailed analysis of the market by type facilitates to understand the silicone elastomer types that are currently in use, along with the variant that are expected to gain prominence in the future.
Porter’s Five Forces analysis highlights the potency of buyers & suppliers to offer a competitive advantage to stakeholders to make profit-oriented business decisions and strengthen their supplier & buyer network.
Extensive analysis is conducted by following key product positioning and monitoring the top competitors within the market framework.
Major players profiled in this study are as follows:
ICM Products Group
Elkem AS
KCC Corporation
The Dow Chemical Company
Mesgo S.p.A.
Momentive Performance Materials Inc.
Reiss Manufacturing, Inc.
Shin-Etsu Chemical Co., Ltd.
Specialty Silicone Products Inc.
Wacker Chemie AG (Wacker)
OTHER KEY PLAYERS
Stockwell Elastomerics, Inc.
Innovative Silicones
Universal Rubber Mfg nv
Cauchos Pedro Romero S.L.
Zhongshan Tinhou Plastic Industrial Co., Ltd.
SF Composites
Huzhou Longtong Chemical Co., Ltd.
Hsuan Hau Enterprise Co., Ltd.
Shenzhen Inno Silica Co., Ltd.
HuBERS
ShenZhen LiYaTe Technology Co., Ltd. (LiYaTe)
Intek Adhesives Ltd.
2D Chemical Ltd.
Silicone Elastomer Market Key Segments:
By Type
Liquid Silicone Rubber
High Consistency Rubber
Fluorosilicone Rubber
Others
By Application
Automotive
Healthcare
Electronics
Apparel
Medical Devices
Home Repair & Hardware
Construction
Others
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By Geography
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Spain
Italy
Rest of the Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of the Asia-Pacific
LAMEA
Brazil
South Africa
Saudi Arabia
Turkey
Rest of LAMEA
Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
Key Benefits of This Market Research:
- Industry drivers, restraints, and possibilities included in the study
- Neutral point of view on the market performance
- Recent enterprise developments and developments
- Competitive panorama and techniques of key players
- Potential and area of interest segments and areas exhibiting promising increase covered
- Historical, current, and projected market size, in phrases of value
- In-depth evaluation of the Market
- Overview of the regional outlook of the Market
Reasons for Buying Acetonitrile Market Report:
- This report gives a forward-looking prospect of various factors driving or restraining market growth.
- It renders an in-depth analysis for changing competitive dynamics.
- It presents a detailed analysis of changing competition dynamics and puts you ahead of competitors.
- It gives a ten-year forecast evaluated on the basis of how the market is predicted to grow.
- It assists in making informed business decisions by performing a pin-point analysis of market segments and by having complete insights of the Market.
- This report helps the readers understand key product segments and their future.
- From 2022 to 2031, All Recent Developments have been covered in this Report.
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